Liquid Network is a block manufacturing that is based mostly on the Blockstream protocol. The community has introduced that its operations have now resumed after it suffered a technical glitch within the performance. This glitch led to many transactions remaining within the queue for a number of hours thereby inflicting lags.
The replace relating to this repair was issued by a board member of the Liquid Network. The oversight board member glided by the title Wiz, who explained that the problem was brought on by “an unexpected issue occurred causing block signer nodes failing to validate certain parameters against each other.”
Due to this glitch, the community might not produce blocks, which led to transactions remaining within the queue for lengthy within the Liquid mempool. The transactions queued right here for round 22 hours, with the primary lag taking place at round 5.19 on Monday.
Issue Fixed by Upgrades
The board member additional said that the builders of the community have been putting in upgrades that can support in performance. The builders had already accomplished 10 upgrades out of the 15 functionalities. Furthermore, regular block manufacturing is anticipated to resume as soon as one other improve is executed.
The pending transactions on the Liquid community have been within the queue within the mempool till the node upgrades have been full. These upgrades have been accomplished on Tuesday, after which the community introduced that the traditional block processing was resuming and that new blocks have been coming into the community.
The Liquid Network was developed in 2015. It was created to be a sidechain of the Bitcoin community to assist velocity up transaction processing in cryptocurrency trade platforms. Liquid helps the LiquidBTC (LBTC) tokens that are pegged on Bitcoin. Currently, there are 3,293 LBTC tokens in circulation.
Liquid additionally has a federation that has managed to entice 57 members. Some of the members of this federation embody Bitfinex, BitMEX and Huobi.
Glitches on Blockchain Networks
Another community that additionally just lately suffered a glitch was the Compound community. The glitch on this community led to a $162 million, whereby it by accident awarded COMP tokens to customers on the community. While a few of these tokens have been reimbursed again to the community, it has make clear the weaknesses surrounding blockchain and decentralized finance networks.
Last month, the Solana community additionally suffered a significant glitch that led to a 17-hour outage on the community. This glitch was brought on by an inflow within the variety of transactions on the community. nevertheless, it was later fastened after validates restarted the community.
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